Written by Miami Today on March 28, 2013
Miami is a weekly feature of Miami Today, keeping readers ahead
of the news. Here are highlights from the most current edition.
coverage, including The Insider and all information columns,
is available in the e-edition. Sign up now.
BASEBALL’S IMPACT: Revenue per parking space in the 36,000 parking spaces owned and managed by Miami’s Department of Off-Street Parking declined last year from $1,200 per space in fiscal 2011 to $1,098, according to Fitch Ratings in a report that maintained the A rating of the department’s $70.7 million in outstanding bonds and rated the outlook for the bonds stable. Fitch attributed the drop in income per space to the fact that the department acquired 2,064 more spaces last year, "many of which are located near the Marlins ballpark and thus experienced a seasonal nature of activity that has resulted in a drop of revenue per spaceÉÓ Overall, however, the department’s revenues grew 3.9% in fiscal 2012 to $26.5 million, Fitch said, which "can be attributed to the expansion of metered area in the central business district and increasing registrants to the Pay-by-Phone program.Ó
BEACH APARTMENTS BUY: Local private capital group Bleu Lionn sold three South Beach apartment buildings totaling 39 units to private capital group Bar Investment Group for $5.5 million, or $141,026 per unit, $261 per square foot. It was the fourth multifamily transaction that CBRE Private Capital Group had completed in Miami Beach in the past year, all sold to foreign buyers, said Calum Weaver, the group’s director of operations. "Multi-housing investment opportunities are highly sought after by domestic and foreign private capital investors,Ó he said. "Excellent occupancy levels, record rents, positive long-term fundamentals and South Beach’s international appeal provide significant investor interest, as was the case with this transaction.Ó
ROAD SHOW: Miami-Dade commissioners will hit the road May 21 to meet in the South Dade Cultural Arts Center instead of County Hall. The aim is "to come closer to the people and tell the people we care,Ó said commission Chair Rebeca Sosa.
WYNWOOD WEBSITE: The Benamor Group said it has launched a website for the Wynwood Arts District. The website "is now the official guide, directory and source for everything going on in the Wynwood Arts District, from the chic events at art galleries to the everyday specials at Joey’s,Ó the company said. The district is home to more than 70 art galleries, retail stores, antique shops, and eclectic bars, the company added. "We have really needed a great website for the Wynwood Arts District to showcase our neighborhood,Ó said David Lombardi, principal of Lombardi Properties. Details: http://wynwoodmiami.com/home.php